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Starting an own company in the U.A.E is easy as well as hard. There are certain requirements that needs to be fulfilled in which one of them is to find a local sponsor. The local sponsor or Local Sponsorship is an individual who must be a U.A.E citizen and will present your company and is ready to care of your visa issues.
He would hold 51% stake of the company and will require an annual fee after which you could take care of the company as you want to. The stress of finding a local sponsor can be terrifying but there is no need to worry as Bizvirtue has all the solution to your problems. We have verified local sponsors that would help your company get set and you may not need to face any issues related to documentation
- Your first priority must be to choose an excellent local sponsor that you could trust by a personal relationship.
- If you have no connection in the U.A.E locals, you may use an experienced business setup consultant.
- You must be sure to not go for cheap sponsorship offers as they may make you face problems in the future.
- All fees should be transparent as there may e hidden fee to be paid to sign any kind of official documents.
- Always try to have the right documentation, contacts and any agreements to protect your assets.
- Real estate
- Textile firms
- Logistics and cargo firms
- Industries that require license for manufacturing & license
- Advertising firms
- Trading firms
- Electronics and equipment industries
- Oil and natural gas companies
There are some types of local sponsorships that depends on what types of business you are willing to start in U.A.E
Individual sponsorship
Individual sponsors must be a U.A.E citizen who must be over the age of 21. Under this sponsorship, an Emirati individual can sponsor your business and hold a stake of 51 % of your company. The local partner can over the full power in exchanger for a standard annual fee.
Corporate sponsorship
This is just like local sponsorship except that sponsor must be national company rather than one individual. It’s the same that the sponsor will have 51% stake of the company. A standard set fee pr profit share agreement can be done, and the foreign stockholder can run the company.
Local service agent
These agents are required when some professionals from a certain area such as a doctor, engineer or an accountant wants to setup a company. They can have 100% ownership of their company, but they will have to hire a local agent that would represent them to all the government sector dealings and stuff.
